Bitcoin Thread

Status
Not open for further replies.
rvZA said:
Bitcoin has been taking a massive hiding and it continues. However, I am not so sure about a Crypto winter though. Take a look at Cardano, it has been climbing while all others were falling. If you want a cleaner carbon footprint, Cardano is probably at the top of the list with their tech.
Click to expand...

More efficient than Hedera?
 
SauRoNZA said:
More efficient than Hedera?
Click to expand...

Look, Hedera is based on Hashgraph tech, while Cardano is on Blockchain tech. They are not totally the same, but both are doing well, especially in faster processing, cheaper transaction costs and energy efficiency. Both has a role to play and both will still become big players in Crypto going forward.

The only thing where Hedera may have the top hand is its scalability. This is still an issue for Cardano on which they are working on. If Cardano manages to overcome this, I believe it may be the bigger player going forward.

One disadvantage for Hashgraph is that there are many applications that still function better on Blockchain than it would on Hashgraph. Lastly, Hedera actually patented some of their tech. This may cause issues for developers who in future wants to use their technology. This will also be the reason why many developers are likely to stick with Blockchain technology.
 
Swa said:
Number of nodes mean nothing. It's who controls the hashing power of those nodes and for being the #1 store of value Bitcoin is highly centralised.

It's not how much energy an algorithm uses that makes it secure but rather how accessible it is and with anyone with a gfx card being able to mine Ethereum and its related coins it would make it more secure than Bitcoin. Memory in this case is where the power lies and it's expensive to manufacture so resistant to ASICs and consortiums.
Click to expand...
You're catching yourself out here. If a node could have 51% of hashing power it can execute a double spend attack. The high electricity cost of BTC mining is what makes this attack too energy demanding and expensive to perform.

With ethereum, more miners with gfx cards to confirm transactions does not make it more secure. The hashing power of the entire pool is what's important to confirm blocks before other pools. More hashing power required to confirm transactions means more electricity used, and more security.

Due to BTC limited supply and the 4 year halving of mining rewards, resulting increase in energy demand and cost of mining increases BTC value exponentially. This is proven by the bull runs after every halving. If miners are willing to spend $20,000 to mine 1 BTC it gives it value. Speculative or not does not matter. Energy use is an important feature

In a proof of work blockchain the amount of energy consumed is directly related to the security of the network and the cost of an attack on the blockchain are directly related to mining costs and energy consumption.

BTC is like your safety deposit box where you keep your Kruger Rands. Getting it out the bank is not going to be as convenient and fast as getting your cash from an ATM or bank teller. But the schlep and drawbacks are there for the optimal security.
 
Last edited:
If using LUNO and u want to get into USDT or USDC, whats the best way ? Luno offer USDC but the rate is 14.80 yet the exchange rate for USD/ZAR is 14.20 give or take.... i dont get it why there is such a huge difference ?
 
ichocolate said:
If using LUNO and u want to get into USDT or USDC, whats the best way ? Luno offer USDC but the rate is 14.80 yet the exchange rate for USD/ZAR is 14.20 give or take.... i dont get it why there is such a huge difference ?
Click to expand...
Greed
 
Luno offer USDC but the rate is 14.80 yet the exchange rate for USD/ZAR is 14.20 give or take.... i dont get it why there is such a huge difference ?
Rabobi said:
Greed
Click to expand...

What can u suggest to get in to USDT or USCD ?
 
ichocolate said:
Luno offer USDC but the rate is 14.80 yet the exchange rate for USD/ZAR is 14.20 give or take.... i dont get it why there is such a huge difference ?


What can u suggest to get in to USDT or USCD ?
Click to expand...
This is normal and to be expected

If you want cost price stable coin you need to buy it on foreign exchanges using a swift payment from your bank
 
Snyper564 said:
This is normal and to be expected

If you want cost price stable coin you need to buy it on foreign exchanges using a swift payment from your bank
Click to expand...
I just sucked it up and accepted the premium after trying and failing to use my capitec card on binance
 
Well any exchange if u swapped BTC to USD it seems to be more favorable, compared to Luno, but then again Luno had their customer base with preferred ZAR exit-ers?

Okay, so just saw Snypers update, u reckon just pay if u are dealing with 100 000 Rand and up for example?
 
humbledryer said:
I just sucked it up and accepted the premium after trying and failing to use my capitec card on binance
Click to expand...
This is why regular small crpyto purchases make no sense. Rather just save a chunk of money, buy BTC locally and send to whichever intl. exchange for trading and be done with it.
 
saor said:
This is why regular small crypto purchases make no sense. Rather just save a chunk of money, buy BTC locally and send to whichever intl. exchange for trading and be done with it.
Click to expand...
so basically just go ahead and pay the overhead ? for large amounts .... ?
 
With regards to LUNO savings wallet and the USCD savings wallet. They have a terms and agreement where they say your money is not guaranteed.... how do u feel about this?
Would u use this? or a more abroad playform like BlockFI or NExo or Crypto etc...
 
ichocolate said:
With regards to LUNO savings wallet and the USCD savings wallet. They have a terms and agreement where they say your money is not guaranteed.... how do u feel about this?
Would u use this? or a more abroad playform like BlockFI or NExo or Crypto etc...
Click to expand...
All platforms including nexo and celcius have similar issues.

Remember risk is involved here decide if you wanna take it.

Not your keys not your coins
 
Snyper564 said:
Small amount sub 100k pay prem.

Larger than 100k buy on foreign exchange
Click to expand...
My problem is getting my capitec card to work on a foreign exchange. I've only tried Binance though so can't comment on others. I know from this or another thread that some people have been successful and others haven't. Luck of the draw I guess
 
Last edited:
humbledryer said:
My problem is getting my capitec card to work on a foreign exchange. I've only tried Binance though so can't comment on others. I know from this or another thread that some people have been successful and others haven't. Luck of the draw I guess
Click to expand...
bank xfer to capitec then send crypto to binance
anyways, i dont like binance i thikn it is just way to busy and noisey, many of their buttons or silly items could have been consolidated to make a much more smoother experience
 
Status
Not open for further replies.
Back
Top
Sign up to the MyBroadband newsletter
X